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Pay is frozen: Apple Computer Inc. told employees that all...

July 08, 1993

Pay is frozen: Apple Computer Inc. told employees that all salaries will remain unchanged indefinitely, the San Jose Mercury News reported Thursday. Apple's new chief executive officer Michael Spindler also ordered a 5 percent pay cut for people in positions of vice president and above, the newspaper said. Apple's nearly 15,000 employees got word of the changes in a letter from Spindler, the paper said. Earlier this week Apple said it would fire 2,500 people as part of its restructuring program. Details of that plan are expected July 15.